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Oct 21 - 05:55 AM

EUR/USD - Bullish Correction Capped, Risk Returns To The Downside

By Peter Stoneham  —  Oct 21 - 04:20 AM
  • Underlying bear run could do with a larger correction

  • however, for now the 200DMA is closing the door

  • Rebound out of Thurs 1.0811 low hit the buffers at 1.0869-71, Fri/Mon highs

  • The 200DMA comes in at 1.0872 today and is flat lining

  • 10DMA crossed under the 100DMA last week and now eyes the 200DMA

  • A mid-Nov 1.0998-1.1018 cloud twist might begin to drag on price

  • Bear trend intact while below 1.0936, 100DMA

  • We offer by 1.0930 but may have to pull the offer lower on a weak close

  • EUR/USD Trader TGM2334

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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